Personal Finance Is Personal — And That Makes It Hard Work

I get tickled when people tell me that they read a certain book or listened to a certain guru and followed the plan to the letter, but still have financial trouble or they can’t meet their goals. They seem stymied as to why the plan didn’t work. I often ask them if the plan was tailored to their specific situation, beliefs, needs, and goals. They always say, “Well, no, it was just the plan in the book. But it must be good because the author (or guru) claims to have helped a million people.”

What they don’t yet understand is that it’s called “personal finance” for a reason. Personal finance is personal. Yes, there are some generalizations that

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3 Responses to Personal Finance Is Personal — And That Makes It Hard Work

  1. whitestripe says:

    good post!
    sometimes i find it difficult comparing some things in my life and personal finance to others. for example, i eat mostly organic food and cook from scratch. so while it’s nice to read about people that get a lot of stuff for free from coupons and rebates, to me a lot of the food is crap and i wouldnt eat it, so it doesnt really apply to me.

  2. Emily says:

    Good post, and so true! Personal finance is hard for me as a young graduate student with a lot of student loan debt. I’ll look up advice on how to budget or save, but there are also things that depend on what I can or can’t afford, what I’d have to give up if I did something else instead, etc. It’s so tricky! Another important thing to work into your financial plan is where you keep your money. I have a hard time choosing banks, and finding a good checking account. Select community banks nationwide do now have high yield checking accounts, to serve as economic engines. You can go on CheckingFinder to compare rates and requirements for accounts, and sign up for free if you find one you like (I’m all about the free stuff!)

  3. Emily says:

    P.s. In case it’s not clear from linking the URL to my name, I posted on behalf of CheckingFinder. Hope it comes in handy as an additional resource for managing personal finance. :)

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